- Do it ironically
- Jul 13, 2010
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by Pragmatica
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i hope alberta continues to tank so i can be one of the part time job having low income making ndp supporters who gets the other province's monies, maybe i'll take up playing video games too.
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Oct 9, 2015 21:10
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- Adbot
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ADBOT LOVES YOU
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May 26, 2024 15:40
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- Do it ironically
- Jul 13, 2010
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by Pragmatica
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lmbo i think its funny that canadians from other provinces think that albertans like working for chinese and US companies who own a lot of the big operating companies, NEP 2.0 would free a lot of us to piss around and do nothing like all the other provinces
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Oct 9, 2015 21:16
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- ocrumsprug
- Sep 23, 2010
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by LITERALLY AN ADMIN
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kickboxinggirlfriend.txt
lmbo i think its funny that canadians from other provinces think that albertans like working for chinese and US companies who own a lot of the big operating companies, NEP 2.0 would free a lot of us to piss around and do nothing like all the other provinces
What magical province is this without foreign companies?
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Oct 9, 2015 21:50
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- namaste friends
- Sep 18, 2004
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by Smythe
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Labrador.
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Oct 9, 2015 22:07
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- I would blow Dane Cook
- Dec 26, 2008
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Does Labrador have Labradors?
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Oct 10, 2015 02:14
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- namaste friends
- Sep 18, 2004
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by Smythe
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Some bad news assholes
http://www.theglobeandmail.com/repo...rticle26737204/
quote:
Bank of Canada says business confidence ‘tepid’ as oil shock lingers
The mood of Canadian businesses is gradually improving, but the oil-price shock continues to weigh on sales, hiring and investment.
Canada’s two-track economy is evident in the Bank of Canada’s latest quarterly business-outlook survey: early signs of an export-led recovery, but also persistent weakness in the regions and industries hit by the resource slump.
“Business sentiment remains tepid over all,” the bank pointed out in its fall survey, released on Friday.
“The outlook remains weak for firms in the energy sector and supply chain, as well as those exposed to slowing household spending and diminished confidence in the affected regions,” according to the survey of senior managers from 100 companies, conducted from Aug. 20 to Sept. 16.
Companies are equally split on whether sales accelerated or slowed in the past 12 months. Nonetheless, the survey suggests that businesses are starting to feel more confident about what lies ahead. More businesses than not expect the pace of sales to pick up and expect to invest and hire over the next year.
Forty-six per cent of those surveyed expect sales to increase at a greater rate in the next 12 months, while 30 per cent said the pace of sales would slow. In addition, 40 per cent expect to boost spending on machinery and equipment in the next year, versus 26 per cent who expect to invest less.
The fact that the overall mood has improved from surveys earlier this year suggests that “the worst is behind us” after the economy’s first-half contraction, Bank of Montreal economist Benjamin Reitzes said in a research note.
A separate Toronto-Dominion Bank report, also released on Friday, warned that it could take until 2017 before business investment “makes a meaningful contribution” to economic growth in Canada.
Exports are starting to rebound in many industries, but it is taking much longer for companies to commit to new investments, TD pointed out.
The report identifies several key sectors that are likely to drive business investment in the next couple of years: transportation, warehousing, food, hotels and manufacturing.
One the reasons that investment remains relatively weak is that businesses still have a lot of unused capacity.
Capacity pressures are weaker now than they have been in six years, with less than a third of companies reporting they would have a tough time meeting increased demand, according to the Bank of Canada survey. This suggests that “economic slack has widened,” the bank said.
The survey also found “persistent labour market slack.” The share of companies reporting labour shortages is at its lowest level since early 2011.
The bright spot continues to be the export sector, where companies are getting a boost from a combination of the weaker Canadian dollar and the improving U.S. economy. The same factors are also giving Canadian tourist operators a lift.
But the cheaper dollar, now at about 77 cents (U.S.), is also hurting Canadian retailers and wholesalers, the Bank of Canada said.
“Many had already passed higher prices for their imported inputs through to their customers, but judge that, in the current competitive environment, raising prices further … would be detrimental to their sales,” according to the survey.
Hiring plans are also modest. Forty-one per cent of respondents expect to add employees over the next year, compared with 13 per cent who said their work forces would shrink.
A “large majority” of respondents expect inflation to stay within the central bank’s target band of 1 to 3 per cent over the next two years.
For the first time in nearly two years, more businesses than not are reporting tighter credit conditions.
A separate survey of bank loan officers said tighter lending conditions persist for borrowers in the oil and gas business. Over all, lending conditions were stable in the third quarter.
fingers crossed this will snowball into a deflation poo poo sandwich
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Oct 10, 2015 05:27
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- namaste friends
- Sep 18, 2004
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by Smythe
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quote:
The Hidden Debt Burden of Emerging Markets
LIMA – As central bankers and finance ministers from around the globe gather for the International Monetary Fund’s annual meetings here in Peru, the emerging world is rife with symptoms of increasing economic vulnerability. Gone are the days when IMF meetings were monopolized by the problems of the advanced economies struggling to recover from the 2008 financial crisis. Now, the discussion has shifted back toward emerging economies, which face the risk of financial crises of their own.
While no two financial crises are identical, all tend to share some telltale symptoms: a significant slowdown in economic growth and exports, the unwinding of asset-price booms, growing current-account and fiscal deficits, rising leverage, and a reduction or outright reversal in capital inflows. To varying degrees, emerging economies are now exhibiting all of them.
The turning point came in 2013, when the expectation of rising interest rates in the United States and falling global commodity prices brought an end to a multi-year capital-inflow bonanza that had been supporting emerging economies’ growth. China’s recent slowdown, by fueling turbulence in global capital markets and weakening commodity prices further, has exacerbated the downturn throughout the emerging world.
These challenges, while difficult to address, are at least discernible. But emerging economies may also be experiencing another common symptom of an impending crisis, one that is much tougher to detect and measure: hidden debts.
Sometimes connected with graft, hidden debts do not usually appear on balance sheets or in standard databases. Their features morph from one crisis to the next, as do the players involved in their creation. As a result, they often go undetected, until it is too late.
Indeed, it was not until after the eruption of the 1994-1995 peso crisis that the world learned that Mexico’s private banks had taken on a significant amount of currency risk through off-balance-sheet borrowing (derivatives). Likewise, before the 1997 Asian financial crisis, the IMF and financial markets were unaware that Thailand’s central-bank reserves had been nearly depleted (the $33 billion total that was reported did not account for commitments in forward contracts, which left net reserves of only about $1 billion). And, until Greece’s crisis in 2010, the country’s fiscal deficits and debt burden were thought to be much smaller than they were, thanks to the use of financial derivatives and creative accounting by the Greek government.
So the great question today is where emerging-economy debts are hiding. And, unfortunately, there are severe obstacles to exposing them – beginning with the opaqueness of China’s financial transactions with other emerging economies over the past decade.
During its domestic infrastructure boom, China financed major projects – often connected to mining, energy, and infrastructure – in other emerging economies. Given that the lending was denominated primarily in US dollars, it is subject to currency risk, adding another dimension of vulnerability to emerging-economy balance sheets.
But the extent of that lending is largely unknown, because much of it came from development banks in China that are not included in the data collected by the Bank for International Settlements (the primary global source for such information). And, because the loans were rarely issued as securities in international capital markets, it is not included in, say, World Bank databases, either.
Even where data exist, the figures must be interpreted with care. For example, data collected on a project-by-project basis by the Global Economic Governance Initiative and the Inter-American Dialog could provide some insight into Chinese lending to several Latin American economies. For example, it seems that, from 2009 to 2014, total Chinese lending to Venezuela amounted to 18% of the country’s annual GDP, and Ecuador received Chinese loans exceeding 10% of its GDP. Chinese lending to Brazil was closer to 1% of GDP, while lending to Mexico was comparatively trivial.

But actual disbursements may have fallen short of the original plans, meaning that these countries’ debts to China are lower than estimated. Alternatively – and more likely – the data may not include some projects, lenders, or borrowers, meaning that the debts could be much higher.
Moreover, other forms of borrowing – such as trade finance, which is skewed toward shorter maturities – are not included in these figures. Currency-swap agreements, which have been important for Brazil and Argentina, must also be added to the list. (This highlights the importance of tracking net, rather than gross, reserves.)
In short, though emerging economies’ debts seem largely moderate by historic standards, it seems likely that they are being underestimated, perhaps by a large margin. If so, the magnitude of the ongoing reversal in capital flows that emerging economies are experiencing may be larger than is generally believed – potentially large enough to trigger a crisis. In this context, keeping track of opaque and evolving financial linkages is more important than ever
http://www.project-syndicate.org/commentary/hidden-debt-burden-emerging-markets-by-carmen-reinhart-2015-10
So it's written by a loving liar but it's giving me a hate boner which is why I'm posting this.
Tldr, a lot of money printed during the gfc ended up being lent to emerging market economies. Countries like Venezuela, Ecuador, Brazil borrowed money from Chinese companies and banks. The problem is, because the record keeping is so opaque, it's not certain exactly how indebted companies, governments in these countries actually are.
I guess we'll find out when the fed raises rates and everyone starts to default because they can't afford to pay the interest lmao
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Oct 10, 2015 15:25
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- namaste friends
- Sep 18, 2004
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by Smythe
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A lower loonie is going to benefit exports in Canada. On the other hand if you're trying to innovate and build a business that sells services and you require capex, you're going to be spending more. You better hope Americans want to buy your food app.
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Oct 10, 2015 18:25
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- Rime
- Nov 2, 2011
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by Games Forum
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Do we even manufacture anything of note these days, beyond branch plants for some US auto giants and the husk of Bombardier?
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Oct 10, 2015 19:24
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- namaste friends
- Sep 18, 2004
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by Smythe
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Take a look at Canada's GDP stats. Canada has a very big manufacturing sector.
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Oct 10, 2015 19:52
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- namaste friends
- Sep 18, 2004
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by Smythe
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You're actually about to find out with where you're working. Maybe your business or any of the others in the vicinity.
Consider this: would you know how to build a conveyor belt? With a load capacity that stretches several km?
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Oct 10, 2015 20:49
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- Rime
- Nov 2, 2011
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by Games Forum
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Is that a product that Canada and Canada alone leads the world in the production of, rather than the engineering powerhouse Germany?
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Oct 10, 2015 20:52
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- Pimpmust
- Oct 1, 2008
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You don't have to be the best at producing something, just good enough for the price (or simply logistics) - if there's capacity lacking in say Germany then plenty of people will go with #2 (Canada) over #3-10 (China, Mexico, Bumfuckistan and friends) if the price is right.
There's still plenty of manufacturing going on in western countries, it just doesn't get much press compared to the New Hot App Company or what have you.
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Oct 10, 2015 21:07
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- PT6A
- Jan 5, 2006
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Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane
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You don't have to be the best at producing something, just good enough for the price (or simply logistics) - if there's capacity lacking in say Germany then plenty of people will go with #2 (Canada) over #3-10 (China, Mexico, Bumfuckistan and friends) if the price is right.
There's still plenty of manufacturing going on in western countries, it just doesn't get much press compared to the New Hot App Company or what have you.
Yeah, not everything has to be brand-name stuff that gets advertised on TV. You still need to manufacture shingles, paint, plastic bags, and all sorts of other inconsequential rubbish -- just look at How It's Made.
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Oct 10, 2015 21:09
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- PT6A
- Jan 5, 2006
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Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane
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Apparently the truck equity is a real thing. A friend of a friend apparently owes like $70,000 on a loan for a truck that's worth perhaps $40,000 because he's a goddamn moron who kept buying new trucks all the time. I thought these were all fables, meant to illustrate the dangers of profligacy and stupidity, but it turns out they're real and happening repeatedly.
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Oct 10, 2015 21:51
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- Lexicon
- Jul 29, 2003
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I had a beer with Stephen Harper once and now I like him.
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You don't have to be the best at producing something, just good enough for the price (or simply logistics) - if there's capacity lacking in say Germany then plenty of people will go with #2 (Canada) over #3-10 (China, Mexico, Bumfuckistan and friends) if the price is right.
There's still plenty of manufacturing going on in western countries, it just doesn't get much press compared to the New Hot App Company or what have you.
Also, there's tons of automation involved - so the dollars of gdp per job in western manufacturing is a rather large number.
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Oct 10, 2015 23:33
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- computer parts
- Nov 18, 2010
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PLEASE CLAP
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Rolling an underwater car loan into another car loan is probably the norm and not the exception in the SUV and truck classes. It's why the margins can be so high.
No, that's because new trucks go for $60,000.
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Oct 11, 2015 03:22
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- namaste friends
- Sep 18, 2004
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by Smythe
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does anyone else think this is loving insane? 60k for a loving truck????
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Oct 11, 2015 03:23
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- computer parts
- Nov 18, 2010
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PLEASE CLAP
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Which is possible because of easy financing. You think Joe Badmortgage can afford a $60K depreciating asset in cash?
People typically don't buy any cars with cash.
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Oct 11, 2015 03:27
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.theglobeandmail.com/report-on-business/economy/interest-rates-are-last-line-of-defence-on-household-debt-poloz/article26765728/
quote:
Interest rates are last line of defence on household debt: Poloz
Bank of Canada Governor Stephen Poloz acknowledged on Saturday that rising high household debt represented a key vulnerability of Canada’s financial system but said monetary policy should be the last line of defense in addressing it.
The central bank chief said it was no surprise that low interest rates had caused people to take on more debt in the face of rising housing prices, as the low rates meant that the ratio of debt service to income was stable.
“I’m not trying to diminish the threat posed by elevated household debt. We are continuing to watch this closely. The point is that there is more to the story than the debt-to-income ratio,” he said in a speech on the sidelines of the annual meetings of the International Monetary Fund and World Bank.
Canada’s ratio of household debt to disposable income hit a record 164.6 per cent in the second quarter.
Poloz’s remarks were among the last he would be making publicly before the Oct 21 rate decision. Most economists expect him to keep rates on hold, with the markets pricing in only a 9 per cent chance of a cut.
He justified his two rate cuts so far this year as required by the oil price crash cutting heavily into national income and threatening to drive inflation below target for an unacceptably long time.
“We knew that easing policy would have implications for financial stability. However, we also knew that those concerns had to remain subordinate to the primary mission of achieving our inflation target and getting our policy back in the zone where the risks are balanced,” he said in the prepared text of his speech.
The governor cited these two cuts as real-life examples of how the central bank would not let financial stability concerns pre-empt the inflation mandate if there were still macroprudential measures that could be taken first.
“Even in extreme conditions, when financial stability risks constrain monetary policy from achieving the inflation target over a reasonable time frame, a central bank would want to ensure that all macroprudential options were exhausted before trying to address those risks with monetary policy,” he said.
He also said that the cuts could actually lessen the chances of the oil price shock triggering financial stability risks, following an argument according to which the cuts will help avoid unemployment, for example, leading to potential defaults.
“In the current context, getting the economy back to full capacity with inflation on target is central to promoting financial stability over the longer term,” he said.
Nonetheless, he said the central bank reserved the right in general to opt for a policy path that aims to return inflation to target over a longer time frame than normal, in order not to significantly worsen financial stability concerns.
Among the lines of defense ahead of monetary policy, he said, are the global financial reforms in the wake of the recent financial crisis.
“What’s important now is that we finish the job. Ensuring the safety of the global financial system is in all of our interests. We can’t be distracted and lose sight of this objective,” he said.
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Oct 11, 2015 04:30
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- I would blow Dane Cook
- Dec 26, 2008
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Macroprudential?
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Oct 11, 2015 04:56
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- namaste friends
- Sep 18, 2004
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by Smythe
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He's just lip flapping. The EU is already going to gently caress companies incorporating in Ireland.
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Oct 11, 2015 05:04
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- I would blow Dane Cook
- Dec 26, 2008
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Trigger Warning: Daily Mail
quote:
The REAL Generation Rent problem? They're spoiled
I grew up in a rented house: a draughty Victorian former vicarage.
All my primary school friends lived in council houses. Living in a rented property in the 1960s and 1970s was normal: there was no stigma.
My mum and dad didn’t agonise over the fact that they were mere tenants, and never thought to complain even when the landlord refused to put in central heating.
I grew up thinking everyone’s flannel froze solid in the bathroom, and that it was par for the course to read a book in bed swapping hands so the left could hold the pages while the right thawed under the bedspread.
I thought everyone had mottled thighs from a too-hot water bottle.
When their seven children had left home, my parents downsized to another rental property on an estate, an awful 1960s house that at first seemed luxurious, with not only central heating but fitted carpets.
But as my parents aged, a drawback emerged: the landlord refused to put in a shower for my mum, who was too disabled to get in and out of a bath, which meant for the last 20 years of her life she only sponge-washed, clinging bent over at the sink.
When I moved to London, I shared a bedroom with another girl for the first few years.
I then rented a bedsit in Barnes. It had a shower room and no cooking facilities, but it seemed like a palace, given I at last had a room to myself.
It was £10 plus two nights’ babysitting a week, but was still such a huge chunk of my salary that I cycled 14 miles every day to work in Soho, unable to afford the bus or train.
I then moved with my sister to a rented house in Brixton, the only area we could afford.
To make ends meet we took in a male lodger; he was mugged on the doorstep, while I was hit round the head at the bus stop one day on my way to work. I hated the decor of my bedroom, but was not allowed to paint it; I bought brown paper and stapled it to the walls. There was no security: the owners could return, or sell up, at any time.
Last week, David Cameron gave an impassioned speech about the scandal that is Generation Rent. He said we must build more homes to help first-time buyers.
Parents worry that their children will never own their own home, and struggle to help with the deposit.
But here’s the thing. In 1984, I got my first foot on the property ladder: a terrace in a slum clearance area. I could only get a mortgage by going halves with my sister: the interest rate for two low-earning women (she was a nurse, while my job on a women’s magazine paid less than the minimum wage because the undoubtedly male management believed we should think ourselves lucky we toiled in such a glamorous industry) was 15 per cent.
Most mornings we’d find someone had tried to force open the windows. After the Brixton riots, its value halved overnight.
Is the housing crisis the worst it has ever been?
Or is it that today’s twentysomethings are too spoiled to struggle, to compromise?
Can you imagine a young professional woman today sharing a bedroom, as I did?
Or putting up with a bedsit?
 They won’t even go two weeks without the new iPhone 6.
https://www.youtube.com/watch?v=Xe1a1wHxTyo
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Oct 11, 2015 05:14
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- Adbot
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ADBOT LOVES YOU
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May 26, 2024 15:40
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- namaste friends
- Sep 18, 2004
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by Smythe
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PARAPGRAPHS
EVERY
WHERE
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Oct 11, 2015 05:15
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Oct 9, 2015 21:10
albertans.
so I will have to pass.
